The 9 Best Cheap Hotels Near London Waterloo Station

Looking for a convenient place to stay near London Waterloo Station? Even better – don’t want to spend a ton of money when you do? You’ve come to the right place.

Finding an affordable place to stay in London is tricky under the best of circumstances, and often means you’re stuck out in Zone 3 or a 20-minute walk from the nearest Tube station. But with a little bit of extra research, you can find places that are more conveniently located without breaking the bank.

In this series, I’m sharing some of the best options for budget-friendly accommodation near London’s various train stations (see also: Euston, King’s Cross, and Victoria). The goal here is to help you find somewhere that is well-connected to both the airport(s) and Central London, as well as to be realistic that travel has gotten really expensive lately!

Below you’ll find seven great cheap hotels near London Waterloo Station. All are within an 11-minute walk of the station and start from less than $185 per night (depending on your travel dates, rates may be higher). Hopefully, you’ll find one that fits your budget and your style, and have this part of planning your London itinerary sorted shortly. Ready to find your London accommodation? Here are the best cheap hotels near London Waterloo.

The Wellington Hotel

• Distance: 0.1 miles, 1-minute walk
• Price from: $106 per night
• Click to Book: Booking.com or Hotels.com

The Wellington Hotel is one of the best-rated cheap hotels near Waterloo – and one of the closest. Located directly opposite Waterloo Station, this hotel is an excellent base to explore London and its most famous sights. 

But its location is only one of many perks. The hotel offers a delicious breakfast which is included in the price of the room. As for the rooms, they’re very comfortable and had the added benefit of a fridge full of complimentary drinks. In case you need to buy groceries, there’s a 24/7 supermarket nearby as well.

Two things to note: one, there’s no lift, and carrying your luggage up the winding stairs may be a problem for some travelers. Two, some rooms are next to the overhead railway, so a lot of noise is expected. However, the hotel staff leaves earplugs for guests.

Premier Inn London Waterloo

• Distance: 0.2 miles, 5-minute walk
• Price from: $137 per night
• Click to Book: PremierInn.com

A 4-minute walk away from Waterloo station, Premier Inn London is your safest bet when it comes to Cheap hotels near Waterloo. The rooms are as expected for a Premier Inn, clean and have all the essentials. The beds are very comfortable and the rooms are bigger than most hotels.

The views don’t disappoint either. From most rooms, you can just look out of your window and see the London Eye up close and Big Ben. There are good baggage drop facilities here so whilst check-in is generally at 3 pm, you don’t have to keep your bags with you all day.

The Walrus Bar & Hostel

• Distance: 0.3 miles, 6-minute walk
• Price from: $44 per night
• Click to Book: Hotels.com

The Walrus Bar & Hostel is very popular among solo travelers and backpackers for its cheap rates and facilities. Its best asset is the fully equipped kitchen where backpackers are allowed to cook their meals. The hotel is located beside Waterloo Station (but then of course you can hear the trains very well).

A very friendly pub is attached to the hostel where you can meet locals and fellow backpackers. Like many of its counterparts, the hotel has no elevator. So, if you travel with big suitcases, be aware that you have to carry them up some really small stairs.

Travelodge London Central Waterloo

• Distance: 0.2 miles, 6-minute walk
• Price from: $125 per night
• Click to Book: Hotels.com

Travelodge sits 10 minutes away from Waterloo Station and is best suited for a short stay in the city. Rooms are quite small and simple in terms of decor. However, they’re comfortable and you can top up your supplies (towels, coffee, tea, etc) whenever you want. Also, rooms have AC, and power works consistently, meaning you can keep the AC working when you’re not there. Last but not least, the hotel is near the best fish and chips restaurant in all of England.

Premier Inn London County Hall

• Distance: 0.3 miles, 6-minute walk
• Price from: $137 per night
• Click to Book: PremierInn.com

Offering an excellent location, spacious rooms, and delicious breakfast, it’s no surprise that the Premier Inn London County Hall is one of the best cheap Waterloo station hotels. 

 Like most Premier Inns, it is functional, comfortable, and generally hassle-free. The rooms are wonderful. They’re big and clean, with equally large and comfortable beds. Rooms also come with a shower-only bathroom, coffee machine, fridge, ironing board/iron, and stunning views of the London Eye.

While breakfast is not included in the night rate, I highly recommend you pay a bit more and include it. There’s an additional charge of £8 for continental and £10 for full English (buffet style). Overall, this hotel makes a great base for a City break or business in the capital. 

Park Plaza County Hall London

• Distance: 0.3 miles, 6-minute walk
• Price from: $177 per night
• Click to Book: Booking.com or Hotels.com

If you’re coming to London with your family, the Park Plaza County Hall London is one of the best hotels to explore the city. Rooms are large and well-equipped with all the essentials. But best of all, family rooms come with a small kitchen. The hotel also has a bar and restaurant in case you want to have dinner or enjoy one last drink before calling it a day. There’s an umbrella hire service in the reception, a fantastic and useful service since it’s not uncommon to wake up one day in London and see it’s raining cats and dogs. 

One of the cons of staying here is the room views. A lot of the rooms face directly onto another part of the hotel instead of the Thames. However, no one comes to London with plans to sit and gaze out the hotel window all day, so this is worth enduring for the ease of access and reasonable price.

Marlin Waterloo

• Distance: 0.4 miles, 7-minute walk
• Price from: $187 per night
• Click to Book: Booking.com or Hotels.com

Marlin Waterloo is, without a doubt, the best you can get in London for your buck. This “apart-hotel” (hotel of apartment-style accommodation) has a super friendly staff and nice clean rooms. There is also the possibility to store your luggage on your first or last day, even if you already checked out. Location-wise, the hotel is within a 5-minute walk to Waterloo Station and a stone’s throw from Big Ben and the London Eye.

Here’s where the Marlin really shines though: rooms feature a kitchenette, complete with silverware, a kettle, a microwave, a dishwashing machine, and an electric stove. There is also a good refrigerator. The hotel also has laundry in case you have a longer stay.

The Steam Engine

• Distance: 0.5 miles, 11-minute walk
• Price from: $63 per night
• Click to Book: Booking.com or Hotels.com

Another alternative for backpackers, The Steam Engine is a great hostel of the PubLove chain. It has around 40 bunk beds, which are quite private. There is a huge bathroom on each floor with three showers. The hostel offers very secure accommodation as you need to tap your card multiple times on your way to get to your room. Moreover, rooms have big lockers inside – you need to bring your padlock. There’s a cute pub on the bottom floor, which has a good selection of drinks, coffee, and tea. Make sure you try their tasty burgers. 

The Bridge Hotel

• Distance: 0.5 miles, 11-minute walk
• Price from: $85 per night
• Click to Book: Booking.com or Hotels.com

Last but not least, The Bridge Hotel is one of the best cheap hotels near Waterloo. The hotel has an excellent location, only 11-minutes away from Waterloo Station. Besides the location, this hotel has other excellent conveniences, such as free wifi, a room fridge, plus lifts to help with luggage. There is also an endless supply of chilled bottled water in reception and bowls of fresh fruit.

The rooms are a bit small and not soundproofed. Nonetheless, they are clean and comfortable, providing all the essentials, such as a hair dryer, safety box, kettle, a small TV, and an iron. The beds are really comfy, too. 

Hopefully, among these options for cheap hotels near London Waterloo, you can find at least one that fits your budget and travel dates. If you have any questions about these hotel options or visiting the Waterloo area, let me know in the comments below!